CORPORATE SOCIAL RESPONSIBILITY POLICY
I. PREFACE: |
In accordance with the provisions of Section 135 of Companies Act, 2013, the Corporate Social Responsibility (CSR) Committee of Manjeet Cotton Private Limited (“the Company”) was constituted by the Board of Directors of the Company. The composition of the said Committee comprises of three directors viz., Shri Bhupendra Singh Rajpal as the Chairman of the Committee along with Shri Rajendra Singh Rajpal and Shri Sanchit Rajpal as the Members of committee. |
II. OBJECTIVE: |
This Policy has been formulated in compliance with Section 135 of the Companies Act, 2013 read along with the applicable rules thereto. |
III. CSR VISION: |
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IV. SCOPE: |
This Policy shall apply to all CSR projects/programmes/activities undertaken by the Company in India as per Schedule VII of the Act. |
V. DEFINITIONS: |
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VI. ROLE OF THE CSR COMMITTEE: |
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VII. ROLE OF THE BOARD: |
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VIII. CSR ACTIVITIES FOR IMPLEMENTATION: |
The CSR Activities would be chosen for implementation by the Company in compliance with the provisions of Section 135 read together with Schedule VII of the Companies Act, 2013. |
IX. CSR MONITORING AND REPORTING FRAMEWORK: |
In compliance with the Act and to ensure funds spent on CSR Activities are creating the desired impact on the ground a comprehensive Monitoring and Reporting framework has been put in place. The CSR Committee shall monitor the implementation of the CSR Policy through periodic reviews of the CSR activities. The respective CSR personnel will present their annual budgets alongwith the list of approved CSR activities conducted by the Company to the CSR Committee together with the progress made from time to time as a part of the evaluation process under the monitoring mechanism. |
X. CSR EXPENDITURE: |
The CSR activities undertaken in India only shall amount to CSR Expenditure. CSR Expenditure shall include all expenditure including contribution to corpus for CSR activities approved by the Board on the recommendation of the CSR Committee but does not include any expenditure on an item not in conformity or not in line with activities which fall within the purview of Schedule VII of the Act. |
XI. DISCLOSURE OF THE POLICY: |
The CSR policy recommended by the CSR Committee and approved by the Board shall be displayed on the Company’s website and shall be disclosed in the Board’s report as well. |
XII. CSR REPORTING: |
The Board Report of a Company shall include an Annual Report on CSR containing particulars specified in Annexure to the CSR Rules as per the prescribed format. |
XIII. FREQUENCY OF MEETINGS: |
The meetings of the Committee could be held at such periodic intervals as may be required. |
XIV. QUORUM: |
Subject to the provisions regarding Quorum of the CSR Committee, as may be mentioned under any other Law or Statutory Regulations, the quorum shall be one-third of its total strength (any fraction contained shall be rounded off as one) or two members, whichever is higher |
XV. CHAIRMAN: |
In the absence of the Chairman, the members of the Committee present at the meeting shall choose one amongst them to act as Chairman. |
XVI. MINUTES OF THE COMMITTEE MEETING: |
In the absence of the Chairman, the members of the Committee present at the meeting shall choose one amongst them to act as Chairman. |
XVII. MISCELLEANOUS: |
This policy shall be updated from time to time, by the Company in accordance with any subsequent amendment(s)/ modification(s)/ change(s), if any, to the Companies Act, 2013, rules made thereunder or any other applicable enactment for the time being in force w.r.t. provisions of Corporate Social Responsibility. |